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8.26.11 WEEKLY RECAP

Gold closed at a new record high Monday; it surged in the afternoon after a fairly volatile day. Platinum also hit a new record high just slightly higher than its yellow cousin. Gold later dropped dramatically later in the week; it held steady at a price similar to a few weeks ago, before its short parabolic rise.

Late in the week, there was a growing feeling that the Federal Reserve may let down those stock investors who believed there would be a commitment to step up stimulus. Some investors feel there should be further action taken to help buoy the economy taken by Ben Bernanke. However, a number of investors predicted disappointment was on the horizon. According to Rob Dugger, managing partner at Hanover Investment Group LLC and a regular participant at the Jackson Hole conference, “The stock market is going to be disappointed Friday morning…It’s not going to get that kind of life-buoy thrown out over the water so that it can grab hold and swim safely to shore.”

The Silver Elephant Coin is one of the most fascinating coins in the African Wildlife Coin Series commemorating the characteristic fauna of Africa. Minted by the Das Bayerische Hauptmünzamt Mint in Munich, Germany, the one-ounce Silver Elephant coins were first issued in 2004. With a denomination of 100 shillings, the German-manufactured Silver Elephant Coin has begun to attract attention from coin collectors all over the world.

One of the most interesting aspects of the Silver Elephant Coin is the location of the coin’s production: the Das Bayerische Hauptmünzamt Mint (the Bavarian State Mint.) Over 800 years old, the Bavarian State Mint is the oldest company in Munich, Germany. One of the five German State Mints, the Bavarian State Mint has produced coins since 1158.

Celebrating the beauty of the animal kingdom, the striking Silver Elephant Coin portrays one of the largest mammals found on the African plains. The reverse design which changes annually features an illustration of a majestic elephant in its natural habitat. The coin obverse depicts two leopards supporting a shield and five-pointed star. Beneath the leopards appears a ribbon draped over two crossed lances and two crossed palm fronds.

The alluring African Wildlife motif of the Silver Elephant Coin makes this Silver treasure a beautiful addition to any coin collection. APMEX makes it easy to buy Silver by offering competitive Silver prices on all Silver coins.